Conclusions
• F&B is an Amenity • Clubs that treat it as such are much healthier financially than those that don’t • Don’t confuse “loss” with something wrong – F&B outcomes result from • CHOICE not EFFICIENCY • The ultimate choice is covering F&B costs through Margin on Sales or Dues Subsidy o Dues subsidy is more fair o Leaning to heavily towards margin negatively impacts the member experience and is also less fair. Your most engaged members bear more of the burden. • Escape the Trap o Embrace the data and fact-based insight o Which bucket is your club in? How do we make our club/member experience better? o What has our Net Worth been doing? How strong/weak is our Balance Sheet? o How much capital do we need? Where is it coming from? What is our Vision?
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